Regulus Therapeutics Inc. (NASDAQ:RGLS) Sees Large Increase in Short Interest

Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 2,660,000 shares, an increase of 30.4% from the March 15th total of 2,040,000 shares. Based on an average daily volume of 1,110,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 5.0% of the shares of the company are sold short.

Regulus Therapeutics Stock Up 9.8 %

RGLS traded up $0.25 during midday trading on Thursday, reaching $2.80. The company had a trading volume of 1,850,733 shares, compared to its average volume of 695,421. Regulus Therapeutics has a 1 year low of $0.83 and a 1 year high of $2.90. The company has a market cap of $185.48 million, a P/E ratio of -2.62 and a beta of 1.03. The business has a 50-day moving average of $1.56 and a two-hundred day moving average of $1.49.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last issued its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). During the same period in the prior year, the company posted ($0.40) EPS. On average, equities research analysts predict that Regulus Therapeutics will post -0.88 EPS for the current year.

Insider Activity

In other news, CEO Joseph P. Hagan bought 50,000 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price of $1.09 per share, for a total transaction of $54,500.00. Following the transaction, the chief executive officer now directly owns 260,808 shares of the company's stock, valued at $284,280.72. This represents a 23.72 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Regulus Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Octagon Capital Advisors LP grew its position in shares of Regulus Therapeutics by 13.7% during the 4th quarter. Octagon Capital Advisors LP now owns 4,848,802 shares of the biopharmaceutical company's stock worth $7,661,000 after buying an additional 585,101 shares in the last quarter. Millennium Management LLC grew its holdings in Regulus Therapeutics by 69.7% during the 4th quarter. Millennium Management LLC now owns 2,192,158 shares of the biopharmaceutical company's stock worth $3,464,000 after acquiring an additional 900,743 shares in the last quarter. State Street Corp increased its position in Regulus Therapeutics by 3.5% during the 3rd quarter. State Street Corp now owns 1,000,998 shares of the biopharmaceutical company's stock valued at $1,572,000 after purchasing an additional 33,496 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Regulus Therapeutics by 141.2% in the 4th quarter. JPMorgan Chase & Co. now owns 190,457 shares of the biopharmaceutical company's stock worth $301,000 after purchasing an additional 111,485 shares during the period. Finally, Tyche Wealth Partners LLC increased its holdings in Regulus Therapeutics by 14.6% during the first quarter. Tyche Wealth Partners LLC now owns 121,589 shares of the biopharmaceutical company's stock valued at $213,000 after buying an additional 15,500 shares during the period. Institutional investors own 92.38% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RGLS shares. HC Wainwright reiterated a "buy" rating and issued a $10.00 price target on shares of Regulus Therapeutics in a report on Friday, March 14th. Canaccord Genuity Group reiterated a "buy" rating and set a $28.00 price target on shares of Regulus Therapeutics in a research report on Monday, March 17th. Finally, Wells Fargo & Company raised shares of Regulus Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $3.00 to $6.00 in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $12.75.

About Regulus Therapeutics

Regulus Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on discovery and development of drugs that targets microRNAs to treat a range of diseases in the United States. Its product candidates include RGLS8429, an anti-miR next generation oligonucleotide targeting miR-17, which is in Phase 1b clinical trial for the treatment of autosomal dominant polycystic kidney disease.